Beijing Expects Double-digit Economic Growth This Year

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Last updated at: (Beijing Time) Friday, December 27, 2002

Beijing Expects Double-digit Economic Growth This Year

Beijing expects a 10.2 percent growth in gross domestic product (GDP) which will hit 313 billion yuan (about 37.71 billion US dollars) this year.

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Beijing expects a 10.2 percent growth in gross domestic product (GDP) which will hit 313 billion yuan (about 37.71 billion US dollars) this year.

Sources from a municipal meeting on development planning that opened Wednesday said that total fiscal revenue will exceed 50 billion yuan (about 6.02 billion US dollars) in the year.

In the meantime, both investment and consumption will exceed 170 billion yuan (about 20.48 billion US dollars).

Rising domestic demand and increased investment are main factors for the city's economic growth, said a local economic official.

According to the official, the city's export will hit 5.8 billion US dollars this year, up 19 percent from last year, and per capita disposable income of urbanites and per capita net income of farmers will go up by 13.8 percent and 11.8 percent, respectively.

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